Raymond James & Associates Acquires 10,884 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Raymond James & Associates raised its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 10.0% during the 3rd quarter, Holdings Channel reports. The fund owned 119,447 shares of the bank’s stock after purchasing an additional 10,884 shares during the period. Raymond James & Associates’ holdings in Cullen/Frost Bankers were worth $13,361,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Asset Dedication LLC lifted its position in Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after acquiring an additional 105 shares during the last quarter. Whittier Trust Co. lifted its position in Cullen/Frost Bankers by 90.7% during the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after acquiring an additional 186 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in Cullen/Frost Bankers in the second quarter valued at approximately $54,000. North Star Investment Management Corp. purchased a new stake in shares of Cullen/Frost Bankers in the 1st quarter valued at $69,000. Finally, GAMMA Investing LLC grew its position in Cullen/Frost Bankers by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock worth $76,000 after purchasing an additional 106 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the completion of the transaction, the executive vice president now directly owns 1,598 shares in the company, valued at $190,481.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.89% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CFR shares. Stephens lifted their target price on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Royal Bank of Canada upped their target price on Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Wedbush cut their target price on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Truist Financial dropped their price target on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Finally, Maxim Group upped their price objective on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $121.31.

Cullen/Frost Bankers Trading Down 0.1 %

NYSE CFR opened at $127.42 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $8.19 billion, a P/E ratio of 15.06, a PEG ratio of 1.51 and a beta of 1.00. The firm’s 50-day moving average is $113.65 and its two-hundred day moving average is $108.27. Cullen/Frost Bankers, Inc. has a 12 month low of $84.86 and a 12 month high of $128.90.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, topping the consensus estimate of $2.07 by $0.14. The firm had revenue of $528.81 million for the quarter, compared to analyst estimates of $506.83 million. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same period in the prior year, the business posted $2.47 EPS. On average, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.59 earnings per share for the current year.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.